Lumen missed earnings expectations, but it actually had some great news for investors. Lumen Technologies (LUMN 32.60%) stock soared again in Wednesday's trading. The telecom's share price ended the daily session up 32.6%, according to data from S&P Global Market Intelligence. Shares had been up as much as 56.6% earlier in the day. Lumen reported mixed second-quarter results after the market closed yesterday, but the company issued some very encouraging guidance. In addition to the promising new forecast, t ...

One of this week's top breakout sensations is still trending upward after an impressive surge. Lumen Technologies (NYSE:LUMN) stock began skyrocketing after markets opened yesterday. The telecommunications firm had reported several key deals with prominent tech companies involving its artificial intelligence (AI) technology. In just 24 hours, Lumen has emerged as a key AI stock that investors can't help but notice. While some wondered if LUMN stock would quickly fall back down, so far, it hasn't happened. S ...

Key Takeaways It was a second straight day of monster gains for Lumen Technologies shares as the telecom company benefited from soaring AI demand. Lumen posted a smaller second-quarter loss and higher revenue than estimates. On Tuesday, Lumen reported a big jump in business for its AI connectivity products. Lumen Technologies (LUMN) shares soared for a second straight session Wednesday after the telecom provider reported better-than-expected results and a huge jump in its full-year free cash flow guidance a ...

Lumen Technologies NYSE: LUMN is known for its legacy telecommunications business. However, recently, Lumen's stock price has skyrocketed over 150%. The catalyst? A surge in demand for high-capacity fiber optic networks that are crucial for powering the artificial intelligence (AI) boom. However, this excitement is tempered by a stark reality: Lumen carries a significant debt load, raising questions about whether the AI-driven growth spurt can indeed turn its fortunes around. Get Lumen Technologies alerts: ...

Lumen Technologies, Inc (LUMN) reported an adjusted loss (excluding special items) of 13 cents per share for the second quarter of 2024. In the prior-year quarter, the company reported adjusted earnings per share of 10 cents. The bottom line was wider than the Zacks Consensus Estimate of a loss of 9 cents per share. Quarterly total revenues were $3.268 billion, down 10.7% year over year on a reported basis. The decline was due to the negative impact of divestitures, commercial agreements and the sale of the ...

Which of these AI-driven stocks is a better buy right now? Lumen Technologies (LUMN 93.05%) and Broadcom (AVGO 1.29%) were both driven higher by the buying frenzy in artificial intelligence (AI) stocks. Over the past 12 months, Lumen's stock surged more than 70% as Broadcom's stock rallied over 60%. Lumen, the telecom company formerly known as CenturyLink, impressed the bulls by signing a new AI infrastructure deal with Microsoft and a fiber supply deal with Corning. Broadcom dazzled the market with its soa ...

shulz At the end of July, trading volume in shares of Lumen Technologies (NYSE:LUMN) surged into the hundreds of millions. Buyers accumulated LUMN stock throughout the last month, starting at around $1.00. In the absence of any news, the stock earned a seven-day winning streak alert on July 19. By July 30, Lumen finally announced a major agreement with Corning (GLW). Lumen would allocate 10% of Corning's global fiber capacity for each of the next two years. This would facilitate Lumen's building of a new ne ...

For the quarter ended June 2024, Lumen (LUMN) reported revenue of $3.27 billion, down 10.7% over the same period last year. EPS came in at -$0.13, compared to $0.10 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $3.26 billion, representing a surprise of +0.39%. The company delivered an EPS surprise of -44.44%, with the consensus EPS estimate being -$0.09. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Financial Performance - Total revenue for Q2 2024 was $3268 million, a decrease of 10.7% year-over-year[18] - Business revenue was $2577 million, down 11.4% year-over-year[16] - Mass Markets revenue was $691 million, a decrease of 8.2% year-over-year[17] - Adjusted EBITDA was $1011 million, a decrease of 17.7% year-over-year, with an adjusted EBITDA margin of 30.9%[33, 34] - Approximately 36% of the total revenue decline was attributed to divestitures, net of post-closing commercial agreements and CDN contracts sold[20] - Approximately 21% of the Adjusted EBITDA decline was attributed to divestitures, net of post-closing commercial agreements and CDN contracts sold[36] Mass Markets & Fiber - Fiber broadband revenue in Mass Markets grew by 14.6% year-over-year, reaching $181 million and contributing 26% to the total[25] - The company reported 40K fiber net subscriber additions, the best ever reported[11, 12, 13] - Fiber-enabled locations increased by 136K quarter-over-quarter[14] - Fiber revenue contribution to total broadband revenue reached 38% in Q2 2024[29] - Fiber broadband ARPU (Average Revenue Per User) is approximately $62[31] Guidance - The company anticipates an adjusted EBITDA between $3900 million and $4000 million for 2024[37] - The company anticipates free cash flow between $1000 million and $1200 million for 2024[37]

Lumen is one of the market's hottest stocks today thanks to some big AI news. The stock of Lumen Technologies (LUMN 91.51%) is posting explosive gains in Tuesday's trading. The company's share price was up 87.3% as of 3:15 p.m. ET today, according to data from S&P Global Market Intelligence. In a press release yesterday, Lumen showed that it's benefiting from demand for fiber networks to support artificial intelligence (AI) services. Following the news, the stock received a ratings upgrade and price-target ...